Indian rupee opens lower after hitting 2.5 year high

The rupee on Tuesday had also hit its highest level against the dollar in about two and-a-half years amidst signs of weakness in the US currency.

Published: 03rd January 2018 12:26 PM  |   Last Updated: 03rd January 2018 12:26 PM   |  A+A-

A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu, November 15, 2016. (Photo | Reuters)

For representational purposes (File | Reuters)

By ANI

NEW DELHI: The Indian rupee on Wednesday slipped in early trade and opened lower by 7 paise at Rs. 63.55 per dollar versus Rs. 63.48 on Tuesday, where the local currency was up by 0.31 percent from its previous closing.

The rupee on Tuesday had also hit its highest level against the dollar in about two and-a-half years amidst signs of weakness in the US currency.

Meanwhile, the stock markets had a positive start to the day with Sensex and Nifty rising more than 100 and 40 points respectively in the opening trade.

The 30-share Bombay Stock Exchange (BSE) Sensex was up 135.66 points at 33947.92, and the 50-share National Stock Exchange (NSE) Nifty gained 40.30 points at 10482.50., crossing the 10,450-mark.

Reliance Industries, Adani Ports, and ICICI Bank opened in green; giving momentum to early morning trade.

However, stocks of Dr Reddy’s Labs, ONGC, and Aurobindo Pharma had slumped.

Asian stocks had also struck a fresh decade high in the New Year, where the Dow rose 0.42 percent.

S&P 500 gained 0.83 percent and the Nasdaq 1.5 percent. 

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